New Issue: JPMorgan prices $120,000 0% notes linked to U.S. dollar index

By Angela McDaniels

Seattle, Dec. 28 - JPMorgan Chase & Co. priced a $120,000 issue of zero-coupon principal-protected notes due Dec. 31, 2008 linked to the U.S. dollar index, according to a 424B2 filing with the Securities and Exchange Commission.

The index measures the performance of the British pound, Canadian dollar, euro, Japanese yen, Swedish krona and Swiss franc against the dollar.

The payout at maturity will be par plus 265% of any positive return on the index. Investors will receive at least par.

Issuer:	JPMorgan Chase & Co.
Issue:	Principal-protected senior notes
Underlying index:	U.S. dollar
Amount:	$120,000
Maturity:	Dec. 31, 2008
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 265% of any positive index return; floor of par
Initial index level:	83.75
Pricing date:	Dec. 22
Settlement date:	Dec. 29
Agent:	J.P. Morgan Securities Inc.
Agent fees:	2.5%, includes 0.50% selling concession

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